Required information Problem 7-48 (LO 7-2) (Static) [The following information applies to the questions displayed below.] During the current year, Ron and Anne sold the following assets: (Use the dividends and capital gains tax rates and tax rate schedules.) Capital Asset L stock Amount Realized $ 50,000 Tax Basis Holding Period $ 41,000 > 1 year M stock N stock 0 stock Antiques Rental home* 28,000 39,000 > 1 year 30,000 22,000 < 1 year 26,000 7,000 33,000 < 1 year 4,000 > 1 year 300,000 90,000 > 1 year *$30,000 of the gain on the rental home is a 25 percent gain (from accumulated depreciation on the property). The remainder is a 0/15/20 percent LTCG. Problem 7-48 Part-a (Static) a. Given that Ron and Anne have taxable income of only $20,000 (all ordinary) before considering the tax effect of their asset sales, what is their gross tax liability for 2022 assuming they file a joint return? Answer is complete but not entirely correct. Gross tax liability $ 21,000